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Why Does Refining Capacity In the United States Affect World Crude Oil Prices

Why does refining capability within the United States have an effect on world crude oil prices
I have seen this several times already in media reports. They declare that limited refining capacity is partially to blame for elevated (crude) oil prices. I can understand that refining capacity would have an effect on prices on the pump, however how is it that it impacts world crude oil prices It would seem that limited… present more I have seen this a number of occasions already in media reviews. They declare that restricted refining capacity is partially to blame for elevated (crude) oil prices. I can understand that refining capacity would affect costs at the pump, but how is it that it impacts world crude oil prices It would seem that restricted refining capability that will cause limited supplies at the gasoline wti crude oil price real time pump which would result in less crude oil being used, thus inflicting increased crude oil provides. If other nations wouldn’t have as limited a refining capacity, would not it make sense that they would have decrease costs at their pumps (all else being equal)
Replace: pjallittle, if I perceive you correctly, you’re saying that the US market is so giant, that when the refining capacity goes down, OPEC and other producers react by limiting supply. Even if producers may immediately change their production, this is able to result in the worth of crude remaining the roughly the same. … present more pjallittle, if I understand you accurately, you’re saying that the US market is so giant, that when the refining capability goes down, OPEC and different producers react by Western limiting provide. Even if producers may instantly change their production, this may result in the price of crude remaining the roughly the identical. Nevertheless, instead it used as reason wti crude oil price real time for higher crude oil prices. In different words, if what you might be saying is true, the other would also apply. So, if refining capacity magically increases within the US, the worth of crude oil falls even when demand for crude oil increases This also does not make sense to me.

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